Some things popup of course and former tenants hide things, I think your checkout inspection was lacking. 

Not only are Queens and Brooklyn the busiest Counties in terms of activity (new listings), but they also have some of the most competitive investors in our market.Properties are selling for 8.5% more than they were in 2023, showing us just how desirable the borough is.

Senior housing, or lack thereof, is a big issue as well.

You have to treat your tenants like guests and provide them an excellent experience  2) competition is heating up so you have to bring your A game.

People are doing it, so presumably it works.FWIW, I invested in Japan for a few years, but lack of rent growth, lack of appreciation, concerns about natural disasters, and just general lack of confidence in the J market led me to shift focus only to the US.

How are you going to compensate for your lack of experience?

Their coaching was lack luster and their training was weak.

It is very tough to finance these because most properties and borrowers do not qualify for the financing criterias on a competitive CRE loan. 

Maybe a STR makes sense because there's less competition.

Do you think there will be a lot of competition?